Millennials – those born between 1982 and 2004 – are known to be an ambitious, forward-thinking, and educated group. They’re also more impatient, prone to job-hop, and it’s harder to get them to settle down. On the whole, however, they are a fantastic group and highly sought out by employers. Millennials are also behind the push into the growing popularity of coworking. But how can they keep them interested and focused for the long haul?
JLL, in their report: “What Do Millenials Want?” provide the following advice:
What can you do to inspire loyalty and avoid these high attrition rates?
Connection to a bigger picture. that: “The best workplaces give their employees a sense of purpose, help them feel they belong, and enable them to make a difference.”
A great example of a company doing this well is Google. Although most do not understand exactly how Google’s search engine works, its mission is clear: “to organize the world’s information and make it universally accessible and useful.” It builds a simple, active and meaningful connection to the company.
Personal and professional growth. Gallup has found that “opportunities to learn and grow” is one of the top three factors in retaining millennials and the only aspect of retention that separates millennials’ needs from those of nonmillenials.
Perhaps the reason why inbound marketing firm HubSpot is among the top for Glassdoor’s 50 best places to work in 2016 is its heavy emphasis on employee growth across all division. The company sponsors a wide range of activities—from tuition reimbursement to opportunities to take on challenges beyond employees’ core responsibilities.
Opportunities to try new roles within the organization. 37 percent of millennialslike knowing that internal hiring is part of the policy. A company that hires internally is a positive for them, as, unlike previous generations, millenials are comfortable switching employers every few years in search of better opportunities.
Recognizing this, Facebook encourages its people to routinely change roles within the company based on their strengths and career objectives. It’s not unusual for an individual to be hired for one job, and then quickly transition to another based on his or her initial performance. All employees are encouraged to switch roles based on their skill sets.
In short, millennials need to be engaged with the right strategies and not simply endured.
So what are the lessons we can take from this?
In our opinion coworking is a key factor in providing this millennial generation an inspiring workspace they actually want to spend time in. Bottom line: If you currently employ, or are looking to hire millennials, you need to consider a coworking space. Read the entire report here. And let us know what you think!
Are you ready to find a workspace that inspires you and your team? Start your coworking search right here – 99spaces.